Card payments rocketed during the pandemic with no sight of slowing down. According to figures from the British Retail Consortium (BRC), card payments account for four of every five payments made. But as consumers switch, the soaring cost of accepting card payments is hitting retailers and adding to business costs.   According to the Institute of […]

If you are an owner of a limited company, taking dividends from your business is a mainstay of effective tax planning. When taking money in the form of a salary, you can make the most of an additional £2,000 annual allowance and lower rates. However, there are restrictions on the circumstances in which a limited

Do you invest in property? Are you rethinking your property portfolio? Property investment can provide strong returns. However, you must plan carefully to achieve the best outcomes. Just buying new properties without a clear strategy would be risky. Although interest rates and costs incurred by landlords are increasing, the correct approach to property investment can

Organisations have less than half a year left to use the opportunities available to incorporate businesses under the super-deduction capital allowance. This Corporation Tax relief operates similarly to previous capital allowance schemes, helping companies to invest in new qualifying plants and machinery, but is perhaps more generous than any other scheme that has come before.

On 23 September, Kwasi Kwarteng implemented significant changes for Stamp Duty Land Tax (SDLT) thresholds, all of which have been retained by the new Chancellor, Jeremy Hunt. Thresholds for first-time buyers have increased from £300,000 to £425,000 on property worth up to £625,000. While for everyone else, the threshold has doubled from £125,000 to £250,000.

On 23 September, the markets experienced considerable volatility due to the ‘Growth Plan’ delivered by the former Chancellor, Kwasi Kwarteng. That made regaining economic confidence an urgent task for the newly appointed Chancellor, Jeremy Hunt, who has delivered a reversal of many of the key tax measures announced in the mini-Budget in a new fiscal

The Prime Minister has announced that the Corporation Tax increase declared by the previous administration and then cancelled by the former Chancellor Kwasi Kwarteng will take place in April 2023. What does the announcement mean? Companies with profits of £250,000 or more For companies with profits of £250,000 or more, the upper profits limit, the

In his mini-Budget, the former Chancellor Kwasi Kwarteng announced plans for Tax-Free Investment Zones across England. The Government says these new economic zones will drive growth by lowering taxes and freeing up planning to encourage development and business investment. What are the benefits of Tax-Free Investment Zones? These zones will offer several advantages to the

Research & Development (R&D) tax reliefs have supported thousands of businesses to invest in innovation by cutting the tax they pay. However, from 1 April 2023, there will be several changes to the rules surrounding R&D, which could affect how much relief you can claim. Expand eligible expenditure to data sets, cloud computing and pure

From 11 October, the interest rates on late tax payments rise again in line with the Bank of England’s (BoE) latest base rate increase. The BoE increased the base rate by 0.5% to 2.25% in September due to inflation. Due to this, the late payment and repayment interest rates applied to tax debts will rise